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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ (376) $ (6,016)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 30,193 26,566
Amortization of deferred franchise fees 129 120
Amortization of deferred financing fees included in interest expense 720 984
(Gain) loss on sale of hotel properties (2,020) 15
Gain on sale of investment in unconsolidated real estate entities 0 (23,817)
Share based compensation 2,713 2,351
Loss from unconsolidated real estate entities 0 1,231
Changes in assets and liabilities:    
Right of use asset 340 324
Hotel receivables (4,293) (2,145)
Deferred costs (243) (22)
Prepaid expenses and other assets (5,592) (3,576)
Accounts payable and accrued expenses 428 2,080
Lease liability (286) (262)
Net cash provided by (used in) operating activities 21,713 (2,167)
Cash flows from investing activities:    
Improvements and additions to hotel properties (9,435) (4,200)
Acquisition of hotel properties (31,048) 0
Investment in hotel properties under development (3,573) (15,231)
Proceeds from sale of hotel properties, net 79,569 0
Proceeds from sale of unconsolidated real estate entity 0 2,800
Receipt of deferred key money 400 0
Net cash provided by (used in) investing activities 35,913 (16,631)
Cash flows from financing activities:    
Borrowings on revolving credit facility 40,000 20,000
Repayments on revolving credit facility (95,000) (27,300)
Borrowings on construction loan 4,136 14,248
Payments on mortgage debt (4,475) (16,875)
Payment of financing costs (172) (144)
Proceeds from issuance of common shares 33 24,583
Proceeds from issuance of preferred shares 0 120,000
Distributions-common shares/units (147) (282)
Distributions-preferred shares (3,975) 0
Net cash (used in) provided by financing activities (59,707) 129,640
Net change in cash, cash equivalents and restricted cash (2,081) 110,842
Cash, cash equivalents and restricted cash, beginning of period 29,869 31,453
Cash, cash equivalents and restricted cash, end of period 27,788 142,295
Supplemental disclosure of cash flow information:    
Cash paid for interest 12,976 13,456
Capitalized interest 330 1,532
Cash paid for income taxes 600 166
Common Shares    
Cash flows from financing activities:    
Payment of offering costs on common/preferred shares (107) (810)
Preferred Shares    
Cash flows from financing activities:    
Payment of offering costs on common/preferred shares $ 0 $ (3,780)